Speaking at an industry event in Korea, Cisco CEO John Chambers has ruled his firm out of a potential bid for Sun Microsystems after the vendor was jilted by IBM last week.

According to Bloomberg, Chambers told reporters that Cisco moved "rapidly" on its acquisitions and hinted that if it was planning to acquire Sun it would have made a move already.

Chambers has been vocal in the past about his intention to ramp-up Cisco's buy-and-build strategy during the downturn with the ultimate aim of positioning Cisco at the forefront of industry innovation, as he did successfully following the dot com crisis.

Just last week the acquisitive vendor picked up Tidal Software to bulk up its recently-announced data centre strategy, and last month it expanded further into the consumer market with the acquisition of Pure Digital, makers of the Flip video camera.

At the start of the week Sun launched a new networking hardware device as part of its Nehalem-based server line-up. Sun claims the Virtual Network Express Module, which fits into a blade chassis, could cancel out the need for a Cisco switch, and the move was widely read as a riposte to Cisco's recent assault on the blade market.

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